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Technology Stocks : Corel Corp.

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To: A. Reader who wrote (5865)	12/17/1998 7:12:00 AM
From: A. Reader	Read Replies (1) of 9798

Investors push Corel stock to 52-week high ....Duncan Stewart, an analyst with Tera Capital Corp. in Toronto, said yesterday that the fact Corel did not issue an earnings warnings at the end of Nov. 30 quarter is bolstering investors' hopes that Corel will keep the promise of profitable results. "People are looking at a software company which is trading well below the level of other software companies, but now has the prospect of being a modestly profitable company." Mr. Stewart said the daily volume of Corel share sales is also growing as day traders -- people who jump in and out of stocks quickly -- and Internet stock chat groups warm to the stock. Corel appears to have turned the corner by slashing advertising and research and development, scaling back plans for ambitious new products and focusing on its traditional graphics and office suite software lines. Still, the many investors who were burned when Corel's extravagant plans to take on Microsoft with Wordperfect office suites blew up, are far from reclaiming their losses. Corel stock plunged from a high of $25.62 in November 1995 and last traded above $5 in October 1997. ottawacitizen.com

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